AMSTERDAM, The Netherlands, April 21 /PRNewswire/ -- Endorex Corporation
(Amex: DOR) presented development of its drug delivery and cancer therapy
programs including an update on its two drug delivery joint ventures with Elan
at the first "Emerging Medical Technologies-Europe" Conference and Exhibition
("EMT") held in Amsterdam, The Netherlands.
The EMT-Europe Conference featured 34 European and select U.S. and
Israel-based, early stage medical device, drug delivery and biotech companies.
Presenters detailed innovative and cost-effective medical technologies to an
audience of European pharmaceutical and medical device companies, medical
product distribution companies, as well as members of the European investment
community.
At the conference Endorex CEO, Michael S. Rosen, outlined results of the
company's two cancer drugs, Perillyl alcohol and ImmTher(R), for various types
of cancer. He also reviewed a number of activities relating to the two Elan
joint ventures, and results achieved with its own oral delivery system for
human growth hormone and insulin. Rosen noted that Endorex has a European
investor base of 25 percent of its shareholders including Elan Corporation,
plc, a global pharmaceutical and drug delivery company that maintains
worldwide corporate offices in Ireland.
Endorex cancer drugs are currently being evaluated in five clinical trials
in the U.S., four of which are being sponsored by the National Cancer
Institute for both the prevention and treatment of cancer. Endorex plans to
initiate additional clinical trials for treatment of other types of cancer
during 1999, such as colorectal cancer (one of the leading cancers in the U.S.
and abroad), and is actively recruiting potential partners for the development
of these drugs in Europe.
Rosen also discussed progress with Elan in their first joint venture,
Innovax, focused on oral delivery of vaccines for the $6 billion human and
veterinary vaccine market. Innovax is seeking partnerships during 1999 with
major vaccine manufacturers and marketers to develop oral vaccines. Endorex
expects to be in clinical trials during 1999 through its joint venture with
Elan involving a soon to be announced drug for the treatment of life-
threatening diseases using Medipad(R), a novel disposable device which
combines both patch and infusion pump technology.
Endorex Corporation is a drug delivery and cancer products company. The
Company licensed its Orasome(TM) technology from the Massachusetts Institute
of Technology, which it is developing to orally deliver vaccines, proteins and
peptides. Endorex formed two joint ventures with Elan Corporation, plc, to
develop novel delivery systems. Endorex is focusing on two innovative
directions in cancer therapy: immunotherapy and natural chemotherapy. Two
Endorex drugs have entered into multiple Phase II clinical trials: ImmTher(R),
an immunomodulator, and Perillyl alcohol, a new monoterpene.
The statements made in this press release contain certain forward-looking
statements, within the meaning of Section 21E of the Securities Exchange Act
of 1934, as amended, that involve a number of known and unknown risks and
uncertainties. Such statements are only predictions and actual events or
results in future periods may differ materially from what is currently
anticipated. In particular, no assurance can be given that either of the
joint ventures with Elan will commence clinical trials, successfully develop
products, negotiate corporate partnerships or become profitable, that the
Orasome delivery system will lead to successful products or become profitable,
that the Company will initiate additional clinical trials or that such trials
will be successful, or that any of the company's cancer drug candidates will
receive regulatory approval or become commercially successful. In addition to
the matters described in this press release, risk factors as described from
time to time in Endorex's filing with the Securities and Exchange Commission,
including, but not limited to, its most recent reports on Form 10-QSB and Form
10-KSB, may affect the results achieved by Endorex. The Company assumes no
obligation to update the information in this release.
SOURCE Endorex Corporation
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Related links:
http://www.endorex.com
CONTACT:
Michael Rosen, President & CEO of Endorex
Corp., 847-573-8990, or mrosen@endorex.com; or Investor
Information, Kathy Brunson, 312-640-6696, General Information,
Bill Murphy, 312-640-6764, or Media Information, Darcy Bretz,
312-640-6756, all of The Financial Relations Board
NOTE TO EDITORS: To receive the latest information about Endorex
Corporation via fax, at no cost, dial 1-800-PRO-INFO, code 'DOR'
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